Kiser Group Lists the Illiana for $9.5 Million in Whiting
06 December 2021
Kiser Group brings the Illiana, located at 1200 119th Street, to market in Whiting, Indiana. Built in 2020, the 32-unit apartment building with commercial space occupied by Notre Dame Credit Union is listed for $9,500,000.
Kiser Group has brought the Illiana, located at 1200 119th Street, to market in Whiting, Indiana. Built in 2020, the 32-unit apartment with commercial space occupied by Notre Dame Credit Union is listed for $9,500,000. Advisors Ron Plonis, Jeff Leibovich, and Kyle Sissell are marketing the property.
“It is rare for an investor to be able to acquire new construction in northwest Indiana,” said Ron Plonis. “The Illiana is one of two new construction buildings in Whiting.”
The Illiana was developed by Holladay Properties and constructed by Holladay Construction Group. The property features 32 two-bedroom, two-bathroom apartment units. Unit amenities include granite countertops, 9-foot ceilings, a private balcony, and more. The ground-floor commercial space is 3,696 square feet and is currently occupied by Notre Dame Credit Union through November 2030.
“Since lease-up, this property has experienced strong demand from the area’s renters and has high occupancy due to the desirable layouts, lack of new apartment offerings in the area, and proximity to Chicago,” said Jeff Leibovich. “With the South Shore West Lake expansion of the train line continuing into Indiana, there will continue to be increased demand for quality rental units just over the Chicago/Indiana border.”
“With property taxes on the rise in Chicago and throughout Illinois, Indiana continues to look more and more appealing for investors,” said Kyle Sissell. “The Illiana also has a long-term tax abatement in place to further benefit new ownership.”